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Labor Market

World Bank: 47 Banking Crises in the Past 40 Years

47 banking crises that have struck 116 countries in the past 40 years - World Bank

October 8, 2013

Austria: Alpine’s Bankruptcy Claims Amount to € 4.15bn

In regard to construction company Alpine’s insolvency, creditors have so far registered claims in the amount of € 4.15bn, as announced by liquidator Stephan Riel in the run-up to Wednesday’s examination hearing.

October 8, 2013

Poland: Amazon to Establish Three Logistic Centers

Leading online retailer Amazon will open three major logistic centers in Poland. According to the company’s own proclamation, this step does not relate to the latest striking problems in Germany.

October 8, 2013

Austria: President Prefers Grand Coalition

President Heinz Fischer has confirmed his wish for the formation of a grand coalition as this would be “the most reasonable solution”, according to him. Other possibilities were afflicted with too many uncertainties.

October 7, 2013

Porr: Capital Increase and Rise in Profits Expected

CEO of listed Austrian construction company Porr Karl-Heinz Strauss is still in favor of a capital increase in 2014 or 2015 and calls upon the government to create “projects for the future”.

October 7, 2013

Croatia: Domestic Consumption Remains Weak

In the next years, Croatia´s economic performance will mainly depend on external factors.

October 5, 2013

Sevelda: Not the Right Time for Capital Increase

In an interview with Financial Times (FT) Karl Sevelda, CEO of RBI, states that a capital increase would be difficult at the moment due to an unfavorable economic environment.

October 4, 2013

Wifo: Austrian Economy Sees Upturn

Today the Austrian Institute for Economic Research (Wifo) has released its prognosis for 2013 and 2014. The institute sees the first signs of an economic recovery.

October 4, 2013

Bulgaria: Shrinking Workforce Leading to Lower Growth

Bulgaria is facing a number of challenges resulting from shifting demographics.

October 4, 2013

Economic Recovery and Interest Rate Turnaround Also in Austria?

Not only Germany but also the peripheral areas of the European Union see economic recovery supported by an increasing export activity.

October 3, 2013

Poland Increases Funding for SMEs

According to Polish Finance Minister Rostowski, the government plans on extending a funding program for the support of small and medium sized companies in order to improve the country’s economy.

October 3, 2013

Moody’s Honors Austrian Banks in CESEE

Only a year ago, the rating agency downgraded Austria because of its banks’ engagement in Eastern Europe. However, the situation has changed to the better.

October 3, 2013

Austria Well Positioned in Global Economic Integration

According to a recent study by the Vienna Institute for Economic Studies (wiiw), Austria is well positioned in the global production and economic integration.

October 3, 2013

Austria: Pussyfooting around Forming Government Coalition

The Austrian People’s Party is picky in regard to choosing a coalition partner. So far the ÖVP has shown no interest in starting coalition talks with former partner SPÖ. However, there are not many options left.

October 2, 2013

Austria: Better off within Eurozone

Economic experts claim that since the beginning of the single currency union, Austria has seen an additional economic growth of 0.4 percent. According to them, a collapse of the Eurozone would lead to a massive decline in exports.

October 2, 2013

New Economic Strategy for SEE

On Tuesday, economic experts held a meeting in the Albanian capital Tirana to examine a draft strategy for development and employment in the SEE region until the year 2020.

October 2, 2013

Czech Republic: Unemployment Stabilizes

Despite the unfavorable macro-economic frame conditions, the Czech labor market situation is stable. Employment rose by 0.8 percentage points.

October 2, 2013

Austria: Struggling to Keep up with Economic Growth and Competitiveness

IV demands overhaul of funding policy by the government so that Austria will improve in international competitiveness.

October 1, 2013

Slovenia to Decide about Selling of Telekom Slovenije

The Slovenian government will decide upon the fate of Telekom Slovenije on Thursday, October 3.

October 1, 2013

Austria: Unemployment Will Not Stop Increasing

In September, the number of persons unemployed continued to increase while employment rose slightly. In total, a number of 335,661 persons were jobless which makes an increase of 13.8 percent on an annual comparison.

October 1, 2013

Austrian Competitiveness Under Pressure

Last year, Austrian labor costs grew stronger than productivity.

October 1, 2013

Upward Trend in Poland´s Labor Market

The unemployment quota stabilizes at a high level. Poland´s economic outlook improves gradually.

October 1, 2013

Austrian Industry Continues Upward Trend

Developments in Austria follow the European trend.

September 30, 2013

Czech Republic: Working Poor Class Grows

In total, about one million Czechs fall into the category of employed poor. Their number is growing substantially.

September 28, 2013

Hungary: Official Unemployment Rate Below 10%

Hungary´s statistical office KSH has published the newest labor market data today. The real labor market conditions in Hungary are expected to be substantially worse.

September 27, 2013

Austria: Kapsch Demands Reform Agenda From New Government

Georg Kapsch, President of the Federation of Austrian Industries (IV) demands the next federal government to introduce a comprehensive reform agenda.

September 27, 2013

Austria Placed 9th in Competition Ranking

According to the latest EU Competition report 2013, Austria ranks ninth among 28 member states. The leaders in the ranking are Sweden, followed by Germany and Denmark while Bulgaria, Latvia and Romania are at the lowest positions.

September 25, 2013

Hungary: Competitiveness of Industrial Sector Shrinks

Regarding Hungary´s competitiveness, there is a clear downward trend. This year, Hungary is expected to achieve an economic turnaround.

September 24, 2013

Alpine: Almost All Former Employees Have New Jobs

Because of the construction company’s bankruptcy, almost 5,000 employees lost their jobs. Currently 133 persons are still looking for a job.

September 24, 2013

Poland Leads Ranking of Top Enterprises in CEE

Credit insurance company Coface has for the fifth time published a study about the Top 500 enterprises in Central and Eastern Europe.

September 24, 2013

Leitl: “Grand Coalition Did Not Fulfill Expectations“

Christoph Leitl, President of the Austrian Chamber of Commerce (WKO), favors a change in the governing parties as the grand coalition has not realized the necessary reforms.

September 24, 2013

Faymann: Austria as Role Model for Investments and Employment Programs

The Austrian Chancellor calls for a fair distribution of wealth and lower taxes on wages.

September 20, 2013

Austria: 80 Percent Opposed to 12-Hour-Working Day

A survey of a Socialist trade union shows that 80 percent of employees are opposed of a working day of twelve hours.

September 19, 2013

Bank Austria to Close Subsidiaries in Hungary

Because of higher costs caused by a tax on financial transaction, which was introduced during the current year, the affiliate of Italian UniCredit intends to downsize operations in Hungary.

September 19, 2013

Austria: WKO Demands Impulses for R&D

Deputy President of the Austrian Chamber of Commerce (WKO), Martha Schultz, demands new impluses for research and innovation in the years from 2014 to 2020.

September 19, 2013

Croatia: No End of Recession in Sight

For the seventh quarter in a row, Croatia´s GDP was down. The main problem is the weakening domestic consumption and the high unemployment quota.

September 19, 2013

Poland: Industrial Output Indicates Upswing

In August, Poland´s industrial production was up for the third month in a row. Due to the growing exports to the Eurozone, Poland is recovering.

September 18, 2013

Hungary: Orban Forecasts Growth of 2 Percent

Hungarian Prime Minister Viktor Orban forecasts economic growth of 2 percent next year as the country has managed to surpass several difficulties.

September 18, 2013

Slovenia: Unemployment Increases Further

The unemployment rate in Slovenia went up to 12.9%.

September 17, 2013

Leitl Recommends Parties Not to Raise Hopes

President of the Austrian Chamber of Commerce, Christoph Leitl considers the demand of the Social Democrats and Chancellor Werner Faymann for a tax relief as soon as 2015 utopian.

September 17, 2013

Poland: Rallies Against Government

Around 20,000 persons took part in a rally against the government organized by the country’s three largest trade unions: Solidarity, the All-Poland Alliance of Trade Unions (OPZZ) and the Trade Unions Forum.

September 12, 2013

Romania: Construction Industry to Grow by 1.9 Percent

The growth rate in the construction industry is even higher than economic growth in real terms.

September 12, 2013

Schieder: IMF Confirms SPÖ-Claims

State Secretary for Finances, Andreas Schieder regards the demands by the International Monetary Fund (IMF) as a confirmation of those by the Social Democrats (SPÖ).

September 11, 2013

Slovenia: Employment Outlooks Deteriorated

Outlooks for Slovenian jobseekers have darkened. According to a recent survy of temporary employment company Manpower presented on Tuesday, employment outlook has dropped from 7 percent to zero.

September 11, 2013

Austria: Spindelegger Confident About Becoming New Chancellor

The intense elections campaign for the Austrian People’s Party (ÖVP) has officially started on Tuesday. Deputy Chancellor and party leader Spindelegger promised more jobs and housing space.

September 11, 2013

Austria: Weak Growth Impulses

Today, the Austrian Institute for Economic Research (Wifo) has corrected the economic outlooks for Austria downwards. Growth impulses have been very weak so far.

September 10, 2013

Poland: Unemployment Dropping Slightly

The number of registered jobseekers decreased in August.

September 10, 2013

Romania: West Region to Catch Up Economically

Romania's West Region aims to catch up with its more developed peers in the European Union.

September 9, 2013

Austria: Liquidity Problems On the Rise

This year, insolvencies and delayed payments are expected cause economic costs of 2.1% of the Austrian GDP.

September 6, 2013

Lopatka Demands Reform for Austrian Railways

State Secretary Lopatka demands Minister of Infrastructure Bures to tackle the expensive pension system at the Austrian Railways by doing away with privliges for emplyoees in order to unburden tax payers.

September 4, 2013